Show SELLING A MINE we heard recently of a big investment syndicate in the market for mining properties which through its engineers examined fifty four propositions during a period of twelve months forty of these were reported upon as being nothing more than prospects ten were possessed of some value and but four came up to anything like the representations made for them one and one only was purchased but not at the price ori originally anally asked which was after making an exhaustive examination it was demonstrated that this mine had a million in sight in its workings but it was not worth a million to the syndicate as it stood and for the following reasons first it would cost to mine and market this ore no matter whether it was done by the original owner or the purchasing syndicate second interest upon the investment must be provided for and third there should be some profit on the investment as well these conditions were presented clearly to the owner he had not thought of them before but he considered that they were reasonable and reduced his price to which was accepted by the syndicate one other property was found to have a million in ore in sight but the owner stood out for a price of a million he still lias has the property and is more than likely to keep keel on owning it for some time to come now and then a man will be found who would be willing to swap a dollar for a dollar but he would hesitate and sidestep side step when asked to give a dollar for eighty five cents the syndicate might have been willing to have given a million in cash for a mine showing a million net in ore in sight trusting to the probability that more ore would be developed in taking out the million but in all cases when a certain tonnage and value is claimed allowance must be made for the expense of mining and marketing for interest on the investment and for a reasonable profit if mine owners were a little more consistent si if their demands were not so out of reason if they were more willing to give ample time for examination and if they did not invariably demand a heavy payment to begin with more sales of mining property would be made and millions more of idle capital would seek mining investments |